Leicester and the East Midlands are experiencing a hospitality boom. In 2023 alone, over 31 million people visited Leicester and Leicestershire, contributing a record £2.39 billion to the local economy—a 15.5% increase on the previous year. The region’s reputation as a vibrant destination for food, drink, and culture continues to grow, with new venues opening and established businesses welcoming more guests than ever.
But with this growth comes new challenges. How can your hospitality business—whether a bar, restaurant, hotel, or café—stay ahead in such a competitive landscape? The answer is simpler than you might think: accurate, professional stocktaking.
The Local Hospitality Landscape: Growth and Opportunity
Leicester and Leicestershire now host over 4,400 hospitality businesses, most of them small and independent1. The sector supports more than 22,900 jobs and is a cornerstone of the region’s economic and social life. Local authorities and tourism bodies have invested in new attractions, hotel spaces, and events, making the area more appealing to both day-trippers and overnight visitors.
Yet, despite the boom, many businesses face tight margins. Productivity in the sector remains about 20% below the UK average, and even small losses or inefficiencies can have a big impact on profitability1. This is where stocktaking becomes not just valuable, but essential.
Why Stocktaking Matters More Than Ever
1. Protect Your Margins in a Competitive Market
With so many venues competing for customers, every penny counts. Over-ordering ties up cash and leads to waste, while under-ordering risks running out of best-sellers and disappointing guests. Stocktaking gives you the data to order smarter, reduce waste, and keep your menu profitable.
2. Spot Trends and Respond Quickly
Leicester’s hospitality scene is dynamic—think festivals, sporting events, and student influxes. Regular stocktakes help you spot what’s selling (and what’s not) so you can adapt your offering to meet demand and seize seasonal opportunities.
3. Prevent Losses from Theft and Error
High staff turnover and busy shifts make hospitality businesses vulnerable to mistakes and even theft. Professional stocktaking uncovers discrepancies between sales and usage, helping you address issues before they become costly problems.
4. Stay Ready for Growth
With the region’s visitor numbers rising and major events like Light Up Leicester and English Tourism Week drawing crowds, being prepared is key. Stocktaking ensures you’re never caught short during peak times, and that you’re making the most of every opportunity.
Real Results for Local Businesses
We’ve seen East Midlands hospitality businesses uncover thousands of pounds in lost profit simply by identifying avoidable wastage or shrinkage. One local bar owner discovered that a single over-poured cocktail was costing them hundreds each month—a problem solved through regular, professional audits.
More Than Just Counting Bottles
Stocktaking isn’t just about numbers. It’s about empowering you with insights to:
- Make smarter purchasing decisions
- Train and motivate your staff
- Set prices that protect your margins
- Plan for busy periods with confidence
The Sterling Stock Auditors Difference
Sterling Stock Auditors are based in the East Midlands and understand the unique challenges and opportunities of the local hospitality scene. We combine hands-on experience with the latest technology, delivering clear, actionable reports—not just spreadsheets.
Ready to unlock hidden profits and run a smarter operation?
Contact Sterling Stock Auditors today for a no-obligation chat about your business. Let’s make Leicester and the East Midlands an even better place to eat, drink, and thrive.